Analysis | In The News

Japan Backs Sri Lanka Amid Debt Fears

The Japan Bank for International Cooperation is backing Sri Lanka's first issuance of bonds in the Japanese market amid concerns about rising debt levels in the South Asian country. While Japan has a longstanding history of providing loans for infrastructure, China's loans for large new projects give it a central financing role in the country, with both Japan and China now holding a ten percent share of Sri Lanka's foreign debt, Nikkei reports.